The Landwolf price has experienced a notable surge as the meme coins hint at a recovery. The sector’s market capitalization soared by almost 4% in the past 24 hours to $48.6 billion.
With the WOLF/USD trading at $0.0148, a 13% surge over the past 24 hours, its technical indicators and recent price movement signal a bullish outlook.
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Further, Elon Musk, the owner of X, has notably commented on the stance surrounding memes, saying,
‘’ Tonight is a clear victory for memes.’’
https://t.co/HphP2Sjn0b pic.twitter.com/W2sZ4qAOa8
— Landwolf (@Landwolfeth) June 28, 2024
WOLF is a meme coin and a culture coin that heavily focuses on memes and engaging its community.
Landwolf Statistical Data
Based on Coinmarketcap data:
- WOLF price now – $0.0144
- WOLF market cap – $144.48 million
- WOLF total supply – 10 billion
- WOLF circulating supply – 10 billion
- WOLF ranking – #2556
The Landwolf price broke above its support zone of $0.0125 on Monday. However, the bulls encountered resistance at $0.0156 as the sellers drove it down. However, the bulls have regained control, and this struggle has led to the formation of a support zone at the 50-day SMA, giving the bulls the wings to fly the price.
WOLF is trading with a bullish bias, consolidating within a rising wedge channel. This hints at a continuation of a bullish trend, committing the coin to more gains.
The technical indicators on WOLF’s price chart suggest the potential for further gains. The Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicate increasing buyer momentum.
The MACD line crossed above the MACD Signal line, a move typically seen as a bullish signal. This indicates that WOLF might be entering a short-term uptrend. Moreover, the MACD signal rests in the positive territory, further supporting the bullish outlook.
Additionally, the RSI is above the 50 mark, signalling intense buyer momentum. Currently, at 54, increased momentum could push the RSI to the 70-overbought zone. This would intensify the positive outlook, supporting the idea that WOLF’s upside potential is greater than its downside risk in the near term.
The WOLF price is currently trading above the 50-day but slightly below the 200-day simple moving averages (SMAs). However, the bulls have found immediate support at the 50-day SMA, which could trigger a rally above the upper trendline of the wedge.
Bulls Poised To Rally Above The Immediate Resistance: Will They Hit The 0.025 Mark?
Over the past day, the landwolf price rebounded strongly from the crucial support at $0.0125. Currently, the WOLF bulls are attempting to break above immediate resistance, which coincides with the 200-day SMA. If they surpass this obstacle within the next 8 hours, they could set their sights on reaching the resistance level at $0.0202.
If bullish momentum continues, $0.0202 could become a support level, propelling WOLF to higher levels in a few days. A successful breakthrough above 0.0202 could open the path for WOLF to target a new high of $0.025 in a short period.
Conversely, if the bears take advantage of the 200-day SMA, the bullish thesis could be invalidated, pushing the price to retest the $0.0125 support level. Further downward pressure could lead to WOLF sinking to around the psychological level of $0.0098.
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